FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Belldegrun Arie 2. Date of Event Requiring Statement (Month/Day/Year) 09/24/2009 3. Issuer Name and Ticker or Trading Symbol Nile Therapeutics, Inc. [NLTX] (Last) (First) (Middle) C/O NILE THERAPEUTICS, INC., 4 WEST 4TH AVENUE, SUITE 400 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) 09/28/2009 (Street) SAN MATEO, CA 94402 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 76,935 I Leumi Overseas Trust Corp. Ltd. as TTEE of the BTL Trust (1) Common Stock 64,800 I Belldegrun Family Trust (2) Common Stock 243,200 I Arie S. Belldegrun, M.D. Inc. Profit Sharing Plan (3) Common Stock 292,000 I Leumi Overseas Trust Corp. Ltd. as TTEE of the Tampere Trust (4) Common Stock 34,485 I Bellco Capital, LLC (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant (Right to Buy)	09/11/2007	09/11/2012	Common Stock	4,210	$ 2.71	I	Leumi Overseas Trust Corp. Ltd. as TTEE of the BTL Trust (1)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	16,200	$ 1.25	I	Belldegrun Family Trust (2)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	16,200	$ 1.71	I	Belldegrun Family Trust (2)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	32,400	$ 2.28	I	Belldegrun Family Trust (2)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	60,800	$ 1.25	I	Arie S. Belldegrun, M.D. Inc. Profit Sharing Plan (3)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	60,800	$ 1.71	I	Arie S. Belldegrun, M.D. Inc. Profit Sharing Plan (3)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	121,600	$ 2.28	I	Arie S. Belldegrun, M.D. Inc. Profit Sharing Plan (3)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	73,000	$ 1.25	I	Leumi Overseas Trust Corp. Ltd. as TTEE of the Tampere Trust (4)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	73,000	$ 1.71	I	Leumi Overseas Trust Corp. Ltd. as TTEE of the Tampere Trust (4)
Warrant (Right to Buy)	07/07/2009	07/07/2014	Common Stock	146,000	$ 2.28	I	Leumi Overseas Trust Corp. Ltd. as TTEE of the Tampere Trust (4)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Belldegrun Arie C/O NILE THERAPEUTICS, INC. 4 WEST 4TH AVENUE, SUITE 400 SAN MATEO, CA 94402	  X	Â	Â	Â

Signatures

/s/ Daron Evans as Attorney-in-Fact for Arie S. Belldegrun pursuant to Power of Attorney previously filed.		10/29/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Although the Reporting Person is not a trustee of the BTL Trust, the Reporting Person is a beneficiary of the BTL Trust, and as such may be deemed to be the beneficial owner of the shares and the warrants owned by the BTL Trust. The Reporting Person disclaims beneficial ownership of the shares and warrants except to the extent of his pecuniary interest therein.
(2)	The Reporting Person is the Trustee of the family trust that owns the shares and the warrants. The Reporting Person disclaims beneficial ownership of these shares and warrants except to the extent of his pecuniary interest therein.
(3)	The Reporting Person is the Trustee of the profit sharing plan that owns the shares and the warrants.
(4)	Although the Reporting Person is not a trustee of the Tampere Trust, the Reporting Person is a beneficiary of the Tampere Trust, and as such may be deemed to be the beneficial owner of the shares and the warrants owned by the Tampere Trust. The Reporting Person disclaims beneficial ownership of the shares and warrants except to the extent of his pecuniary interest therein.
(5)	The Reporting Person is the co-owner of the limited liability company that owns the shares.

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